BEIJING, Jan. 14 (Xinhua) -- Chinese and Indian senior officials on Monday pledged to strengthen trade ties and economic cooperation in fields of construction, investment, financial services, technology, education and tourism.

Chinese Vice Premier Hui Liangyu, who attended the China-India Economic, Trade and Investment Cooperation Summit held in Beijing, welcomed the visit of Manmohan Singh, hailing the overall growth of ties between the two countries, especially in economic and trade cooperation.

Chinese Vice Premier Hui Liangyu speaks during the China-India Economic, Trade & Investment Cooperation Summit in Beijing, China, Jan. 14, 2008.  (Xinhua Photo)

The bilateral trade volume has reached 38.7 billion U.S. dollars in 2007, about 33 times the figure in 1995, with an annual growth of 34 percent. China has become the second largest trade partner of India, and India the tenth largest trade partner of China, Hui said.

The investment between China and India has been expanding, and contracted projects keep increasing. Hui encouraged communication and exchange between industry and commerce circles of the two countries, and also called for cooperation in other countries.

"We are making efforts to expand and deepen the economic and trade ties between China and India. We also hope to develop new ways of cooperation between the two countries," Hui said.

Indian Prime Minister Manmohan Singh speaks during the China-India Economic, Trade & Investment Cooperation Summit in Beijing, China, Jan. 14, 2008. Singh arrived in Beijing on Sunday morning for his three-day trip to China, the first since he took office in 2004.  (Xinhua Photo)

China and India, both enjoy a long tradition of civilization, together topped the list of fast growing developing countries. As economic globalization intensifies, the pursuit of peace, development and cooperation is the dominant trend of the time, Hui said.

China regards India as a friend and partner, and wishes India would become more prosperous. The mutual development not only benefits the 2.4 billion people of the two counties, but also contributes to Asian and world peace, Hui said.

"China is ready to join hands with India, improve mutual cooperation, and together create a brighter future," said Hui.

Echoing Hui's remarks, Singh said that India and China are the fastest growing large economies in the world, and economic cooperation between the two has become a principal driver of strategic and cooperative partnership for peace and prosperity.

Singh suggested that Indian and Chinese industry and commerce circles should further deepen understanding and cooperation so as to achieve mutual benefits.

Over 600 delegates from Chinese and Indian industry and commerce circles attended the summit.

Source: Xinhua